Reliance Industrial Infrastructure Net Profit Slips In Q4

Mumbai: Reliance Industrial Infrastructure Ltd (RIIL) on Wednesday reported 51.22 per cent decline in net profit at Rs 279 crore for the quarter ended March 2016 compared to Rs 572 crore in the corresponding period last year.

The company’s total revenue also decreased marginally by 1.33 per cent at Rs 2,521 crore in Q4 FY16 as against Rs 2,555 crore in the same quarter last year, a company statement said here.

The company’s income from operations stood at Rs 2,277 crore, an increase of 1.88 per cent.

For the year ended March 2016, the company’s net profit slipped by 30.40 per cent at Rs 1,536 crore.

Its total revenue was up by 0.95 per cent at Rs 10,089 crore in FY 2015-16. The increase was primarily on account of increase in income from product transportation through pipeline and increase in other income, it said.

The board of directors have recommended a dividend of Rs 3.50 per fully paid up equity share of Rs 10 each, aggregating Rs 6.36 crore payout including dividend distribution tax.

RIIL provides infrastructure support services namely transportion of petroleum products and water through pipelines, construction machinery on hire and other support services to Reliance Industries group, with a substantial portion provided to Reliance Industries.

RIIL presently does not have any expansion plans on the anvil, it added.